First National Bank Alaska Q3 profit rises 18%
FBAK•First National Bank Alaska’s third-quarter net income rose 18% year over year to $25.20 million, with EPS of $7.95 and net interest margin of 4.05%.
FBAK•FBAK•FBAK•First National Bank Alaska’s third-quarter net income rose 18% year over year to $25.20 million, with EPS of $7.95 and net interest margin of 4.05%.
First National Bank Alaska reported third-quarter net income of $25.20 million and EPS of $7.95. Net interest margin improved to 4.05%, driven by higher yields and loan growth; higher loan interest and fees and yields on investment securities boosted interest income. Salaries and headcount increases raised noninterest expenses.
Nonperforming loans declined, and the bank recorded a benefit in its provision for credit losses. Return on equity was 15.49%. The company did not provide specific guidance for future quarters or full-year results in its press release.
